Bitcoin Weekly Technical Analysis: Critical Crossroads

The weekly chart is flashing a concerning signal as the 20-week moving average has now crossed below the 50-week moving average. This exact bearish crossover occurred in 2022, just before Bitcoin entered a significant correction phase that saw nine consecutive red weekly candles.

What makes this moment particularly critical is the historical context. In the current cycle, Bitcoin has never printed more than four consecutive red weekly candles. If this week closes in the red, it would break that pattern and confirm sustained structural weakness in the market.$BTC

Technical Breakdown

Price action has already lost the critical $75K weekly support level, which now flips to resistance. This breakdown opens the door to the $60K zone, where long-term support levels could potentially catch the fall. The weekly moving averages are now acting as overhead resistance, with the 20W MA at approximately $82K and the 50W MA near $78K.

Key Levels to Watch

The path forward is clearly defined by three scenarios:

• Bullish Reversal:

reclaiming $75K would signal early strength returning to the market. This would be the first indication that buyers are stepping in at former support.

• Trend Resumption:

a decisive break above $80K would confirm strength and open the door for a move toward the psychological $100K level. This would require the weekly moving averages to be recaptured first.

• Continued Weakness:

as long as price remains below the key weekly moving averages, downside risk remains the path of least resistance. A weekly close below current levels would confirm the bearish momentum and likely accelerate selling pressure toward the $60K support zone.

The Bottom Line

Bitcoin is at a pivotal juncture. The bearish moving average crossover combined with the breakdown of $75K support suggests the path of least resistance is lower. However, the market has defied expectations before. This week's close will be telling—either invalidating the bearish setup with a reclaim of key levels or confirming the structural shift that could lead to deeper corrections.